Azerbaijan's economy minister talks sectors to be supported

Azerbaijan’s Minister of Economy Mikayil Jabbarov said that financial support will be provided to certain areas in connection with the situation related to coronavirus spread.

The minister made the remark during his interview to Azerbaijani national television, touching upon preparation of nine economic programs, Trend reports.

"Naturally, first of all, we have put forward work on identifying the affected areas. It covers four large sectors and 20 areas of activity. The most affected, significantly affected, low-affected and non-affected sectors of the economy have been identified," Jabbarov said.

The minister added that the program, which is the first and comprehensive one, covers 304,000 hired employees and 44,000 business entities.

"The main logical philosophy of the program is to allocate the state financial assistance for providing a significant part of the wages to the employees of these entities. In January, the average monthly salary exceeded 700 manat. According to the program’s philosophy, entrepreneurs in the form of direct financial separation are offered a share equal to 50 percent of the monthly salary fund to employees of these enterprises," he noted.

“The recent processes have affected 11 areas of activity by 100 percent including catering, service, tourism and other sectors. The other nine areas of activity are subject to significant negative impact. For them, we apply a coefficient of 70 percent. That is the effect is low, but significant," the minister added.